Absa sells pre-loved vehicles
NEARLY NEW: FAVOURABLE OPPORTUNITY TO BUY QUALITY CAR AT A GOOD PRICE
Used car sales are far outperforming new, says Park Village Auctions auctioneer.
Park Village Auctions (PVA) is set to host yet Absa-verified repossessed vehicle auction to meet the market’s growing demand for used vehicles, as confidence slowly rebounds.
Clive Lazarus, head auctioneer at PVA, says recent new car sales statistics, which reflect a 169% gain compared to May 2020 in new passenger vehicle sales, offer a glimpse of the market’s appetite for a new set of wheels.
“Used car sales are far outperforming new,” says Lazarus.
“The latest TransUnion SA Vehicle Pricing Index reports an increase of 7.4% compared to the last quarter and we are witnessing the same at our monthly national vehicle auctions.
“Consumers want new wheels, and they are keen to take advantage of the current low interest rates.
“However, they are exercising prudence by purchasing nearnew vehicles instead.”
Lazarus says bank repossessed vehicles are often newer models with relatively low mileage and sometimes warranties are intact.
For this reason, auctions represent a favourable opportunity to acquire a quality vehicle for much less than one would find on the dealer’s showroom floor.
The latest offering of Absa repossessed vehicles will showcase an array of vehicles ranging from entry-level hatchbacks to luxury sedans and SUVs.
In addition, light commercial vehicles will be on the block.
As the assets are located Gqeberha and Bloemfontein, the auction will be held online as a hybrid webcast, where online bidding opens at 10am next Wednesday and finishes in lot order with a live webcast from 10am next Thursday.
Registration closes at 9am on Thursday. Lazarus recommends bidders have a trusted representative view vehicles on their behalf if they are not based in Gqeberha or Bloemfontein.
Viewing will be held next Tuesday and Wednesday from 9am to 3pm at the following venues:
Absa Vehicle and Asset Finance Trade Centre, 142 Burman Road, Deal Party, Gqeberha (PE).
► Park Village Auctions Bank Asset Disposal Centre, corner of R64 and Valencia Road, Waterbron, Bloemfontein.
Pre-approved finance is available. For more information, visit www.parkvillageauctions.co.za web listing 752.